GREAT SELLER TERMS - BUSY HIGHWAY LOCATION - RENOVATED - CASHFLOW
Seller is willing to carry behind a new first deed of trust - so no money down!!!! In the heart of La Follette & just 10 minutes to Norris Lake, this property consists of two separate buildings. The original brick building is 2 stories and with only the first floor currently rented to an insurance agency. The entire 2nd floor is comprised of multiple offices, currently vacant and is projected to rent at $2000/mo. The 2nd building has tons of potential as an office warehouse with roll up doors & a partially finished upstairs area. This building is only partially used by a bookkeeping business with a current rent of $600/month.
Buyer to secure a 40% new first deed of trust and Seller will carry 60% for 7 years amortized over 30 years, interest rate of 7%, balloon 7 years from closing